Atlantic's president, Frank Weaver, told me the letter went out by mistake, as it never was approved by his company but was sent by a marketing agency anyway. His settlement (Download Atlantic Home Equity settlement) with the state confirms that explanation.

Homeowners should be used to getting mortgage refinance offers in the mail. There's nothing to stop companies from sending them. But if they really want your business, banks and mortgage companies should be upfront about it by introducing themselves and simply suggesting they believe they can beat your current mortgage, which they probably have reviewed because it's a public record.

If you're at all confused about what you're reading, trash it. There are lots of banks and mortgage companies out there that would love your business. Shop around until you find one you trust.

Weaver of Atlantic Home Equity said the problem is driven by marketing agencies that are competing for business from mortgage originators. He said they guarantee a certain rate of response to the solicitations they draft, and as a result of the competition, the letters are getting out of hand.

Aaaagh- I get at least one of these a day at our house in the San Francisco Bay area. Half of them are fairly straightforward, the other half of them are designed to look like some sort of "official" government program notification or IRS documentation. I really wish they'd stop allowing them to use public property deed records for advertising fodder.